Russia, NNPC in Talk over Oil, Gas, Power Investment

By January 13, 2020 Investment News
Nigeria and the Russian Federation are in talk over investment that will improve the development of the nation’s oil and gas and power sectors, Nigerian National Petroleum Corporation (NNPC) said on Friday.

Speaking at during a working visit of the Federation Ambassador to Nigeria, Alexey Shebarshin, to the NNPC in Abuja, Group Managing Director of the NNPC, Mele Kyari, assured of NNPC’s commitment to partner with the Russian Embassy in Nigeria to ensure that the two countries benefit from a recent bilateral cooperation reached in Sochi, Russia.

“As a National Oil Company, we are committed to growing Nigeria’s economy. We will set up communication channels with the Russian companies, Lukoil and Gazprom in particular, to promote this collaboration for the benefit of our two countries,” Kyari said in a statement.

Shebarshin, who stated that the visit was to consolidate on the gains made from the Russia-Africa Summit held in Sochi last year, added that the Russian Embassy in Nigeria was keen on enhancing and developing the bilateral co-operation between the two countries across the oil and gas value-chain.

“We are particularly interested in participating in Nigeria’s power infrastructure projects. We would also keep close track of the ongoing negotiations between NNPC and Gazprom on the restoration of the bilateral cooperation which aims to revive and solidify the venture between our two companies for gas Infrastructure development in Nigeria,” Shebarshin stated.

While highlighting the Memorandum of Understanding (MoU) signed between the NNPC and Russian-based company, Lukoil, which focused on refinery rehabilitation, the diplomat stressed that he was ready to provide any kind of assistance to move the project forward.

Source: Guardian